New York State Teachers Retirement System Lowers Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York State Teachers Retirement System trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,948,843 shares of the company’s stock after selling 8,204 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Warner Bros. Discovery worth $16,078,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares during the period. Mackenzie Financial Corp raised its holdings in Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after acquiring an additional 2,780,986 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Warner Bros. Discovery by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after acquiring an additional 105,321 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Warner Bros. Discovery by 31.0% in the first quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock worth $2,751,000 after acquiring an additional 74,587 shares during the period. Finally, Sendero Wealth Management LLC grew its position in shares of Warner Bros. Discovery by 84.5% during the third quarter. Sendero Wealth Management LLC now owns 367,307 shares of the company’s stock worth $3,030,000 after purchasing an additional 168,221 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays dropped their price target on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Evercore ISI cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Macquarie dropped their price target on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Trading Up 1.2 %

Shares of NASDAQ WBD opened at $8.23 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $20.18 billion, a price-to-earnings ratio of -1.71 and a beta of 1.48. The business’s 50 day moving average price is $7.83 and its 200-day moving average price is $7.82.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) earnings per share. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.5 earnings per share for the current year.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.